Let your tenants pay down your mortgage, enjoy more tax breaks, hopefully some appreciation and that way you will have another property under your belt that will eventually get you where you need to be.

Somebody was bound to smack me over the head eventually right?

Your agreed upon contract offer will eventually be looked at by the bank.After going back and forth on the price, the listing agent sends in a hardship package along with the signed contract to open a file.

Preferably someone that is successful and does what you would like to eventually do.  

It will get rented eventually.

Having done the analysis for myself a few years ago in the context of my real estate holdings (I own 100% of the equity in several 2 to 3 family properties), I haven't seen the need to form entities for my properties yet although I eventually will when I start paying off mortgages.  

Not today, but eventually you will have a vacancy and turnover cost.

This may be more of a question for an accountant or an attorney, but this community is great, so I am hoping somebody has some wisdom to pass on.My mother owns a vacation home in Michigan that myself and 3 siblings will eventually inherit. 

We are both hungry and motivated and hope to eventually do this long term and make it our primary source of income.We are looking for a motivated buyer's agent in our area who focuses on investment properties who is looking for a long term client.  

I've done quite a bit of research on the SWD and the property isn't too bad considering that Im investing in it so I will eventually rehab it.